Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.3.0.814
Warrants (Tables)
9 Months Ended
Sep. 30, 2015
Warrants  
Schedule of Stock Warrants Activity

The following is a summary of the Company’s warrant activity:

 

    Warrants     Weighted average exercise price     Weighted average remaining contractual term in years     Aggregate intrinsic value  
Outstanding January 1, 2014     3,395,833     $ 0.45       5.28     $ -  
Exercisable January 1, 2014     3,395,833     $ 0.45       5.28     $ -  
Canceled     (3,395,833 )                        
Granted     28,435,782                          
Exercised     -                          
Forfeited     -                          
Outstanding December 31, 2014     28,435,782     $ 0.64       4.07     $ -  
Exercisable December 31, 2014     28,435,782     $ 0.64       4.07     $ -  
Canceled     -                          
Granted     13,435,342                          
Exercised     -                          
Forfeited     -                          
Outstanding September 30, 2015     41,871,124     $ 0.47       3.70     $ 4,988,991  
Exercisable September 30, 2015     41,871,124     $ 0.47       3.70     $ 4,988,991  

Schedule of Fair Value Assumptions Related to Warrants Outstanding

The range of fair value assumptions related to warrants outstanding as of September 30, 2015 and December 31, 2014, were as follows:

 

    September 30, 2015     December 31, 2014  
    (Unaudited)        
Dividend yield     0.0%       0.0%  
Risk-free rate     0.12% - 0.86%       0.12% - 0.66%  
Expected volatility     102% - 159%       112% - 159%  
Expected term     1.0 - 2.5 years       1.0 - 2.5 years